Episode 147: Multiple Streams of Income for Authors

*Affiliate links may be included. You never pay more, but we may make a small commission, which helps to support the costs of running the podcast.

In this week’s episode, Angeline, Holly & Julia discuss how you can create multiple streams of income in your author business.

We cover:

  • Regular subscriptions, like Patreon
  • Irregular payments, like Ko-Fi, courses, and podcasting
  • One-off injections, like awards and grants
  • Full-on side-hustles, like formatting or coaching

Listen on your favourite platform HERE.

Author Streams of Income

  • Regular Incomes (subscriptions)
    • Patreon
    • Substack
    • Twitch streaming
  • Irregular Incomes
    • Book sales on own site
    • Book sales at live events
    • Having multiple versions of your book (i.e. audiobook)
    • Creating and selling a course
    • Donation sites such as Ko-fi or Buy me a Coffee, etc
    • Podcasting income
  • One-off Incomes
    • Arts grants
    • Crowdfunding Campaigns
    • In-person events/speaking/appearances
    • Competition wins

Side-Hustles

  • Editing/proofreading/manuscript critiques etc
  • Freelance writing
  • Ghost writing
  • Paid-for Reviews
  • Book formatting
  • Cover design
  • Social media management/marketing services
  • Virtual assistant
  • Coaching
  • Anything else you’re good at or enjoy doing

Top Tips

  • Consider not fully relying on income linked to your time. You only have so many hours in the day. Finding passive ways to make money can be a real bonus.
  • Regular income streams make it easier to plan and budget, because you know what’s coming in and when, whereas irregular income is always going to be an unknown.
  • Don’t stretch yourself too thin! Focus on more reliable streams rather than always chasing the new, shiny things.
  • Remember that all income streams require marketing, so factor in extra time for that.

Mentioned in This Episode

Resources

Patreon

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Unstoppable Authors on Patreon

Music credit:
Rogue One by Serge Narcissoff | https://soundcloud.com/sergenarcissoff
Music promoted by https://www.free-stock-music.com/
Creative Commons Attribution-ShareAlike 3.0 Unported https://creativecommons.org/licenses/by-sa/3.0/deed.en_US

 

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